SM Investments Corp.'s (SMIC) bakery chain Goldilocks Bakeshop Inc. is planning to open 60 new stores this year, with the goal of broadening its reach and serving more customers across the country.

Frederic DyBuncio, Goldilocks chairman and SMIC president and chief executive officer, said in a statement on Tuesday that the group wanted to further expand outside Metro Manila. The Visayas and Mindanao regions, he noted, "offer strong growth potential."

"From a customer focus standpoint, we continue to be committed to their needs and wants... with the aim of creating more delightful celebrations with our signature cakes and food offerings," he added.

The bakery chain, which currently has over 76 multi-unit franchisees nationwide, launched 41 stores in 2023, bringing the total store count to 926.

"Goldilocks looked to expand responsibly in emerging centers in the region, building on the momentum from last year with over 40 percent of new locations situated in Visayas and Mindanao," SMIC said.

Goldilocks President Richard Yee, for his part, said the bakeshop was also offering financial support to business owners and partners as well as employee training to "ensure a smooth transition of the franchise's operations."

"As their partners, we see to it that our franchisees are in a position to succeed, as their success allows us to be more connected with the customers," Yee noted.

SMIC shares on Tuesday rose by P8.00 to close at P908 each.